Alector (NASDAQ:ALEC) Upgraded at BTIG Research

BTIG Research upgraded shares of Alector (NASDAQ:ALEC) from a neutral rating to a buy rating in a research report report published on Tuesday, MarketBeat.com reports. They currently have $6.00 price target on the stock.

Several other analysts also recently issued reports on ALEC. Morgan Stanley reaffirmed an “underweight” rating on shares of Alector in a report on Thursday, January 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alector in a research note on Wednesday, January 21st. Finally, Wall Street Zen downgraded Alector from a “hold” rating to a “sell” rating in a research report on Sunday, March 1st. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Alector has a consensus rating of “Hold” and an average target price of $4.17.

Alector Trading Down 3.9%

Shares of ALEC stock opened at $2.23 on Tuesday. Alector has a fifty-two week low of $0.87 and a fifty-two week high of $3.40. The stock has a market cap of $246.10 million, a P/E ratio of -1.60 and a beta of 0.58. The business has a fifty day simple moving average of $1.98 and a 200-day simple moving average of $2.03. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.30.

Alector (NASDAQ:ALEC) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.05. The business had revenue of $6.24 million for the quarter, compared to analyst estimates of $1.78 million. Alector had a negative net margin of 679.16% and a negative return on equity of 224.96%. On average, analysts forecast that Alector will post -1.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alector

Several institutional investors and hedge funds have recently modified their holdings of ALEC. Virtu Financial LLC acquired a new stake in Alector during the fourth quarter worth approximately $34,000. Invesco Ltd. raised its holdings in Alector by 45.3% in the 4th quarter. Invesco Ltd. now owns 279,468 shares of the company’s stock valued at $436,000 after acquiring an additional 87,157 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Alector by 132.7% in the 4th quarter. Mackenzie Financial Corp now owns 660,168 shares of the company’s stock valued at $1,001,000 after acquiring an additional 376,456 shares during the last quarter. XTX Topco Ltd lifted its stake in shares of Alector by 501.8% during the 4th quarter. XTX Topco Ltd now owns 592,839 shares of the company’s stock worth $925,000 after purchasing an additional 494,326 shares during the period. Finally, Ikarian Capital LLC lifted its stake in shares of Alector by 174.0% during the 4th quarter. Ikarian Capital LLC now owns 2,082,606 shares of the company’s stock worth $3,249,000 after purchasing an additional 1,322,606 shares during the period. Hedge funds and other institutional investors own 85.83% of the company’s stock.

Alector Company Profile

Alector is a clinical-stage biotechnology company headquartered in South San Francisco, California. Founded in 2013, the company is focused on discovering and developing immuno-neurology therapies that target the innate immune system to treat a range of neurodegenerative disorders. Alector’s approach aims to harness the body’s natural defense mechanisms to clear pathological proteins and restore neuronal function in conditions such as Alzheimer’s disease and frontotemporal dementia.

The company’s pipeline includes multiple product candidates in both preclinical and clinical stages, with lead programs AL001 and AL002 advancing in frontotemporal dementia and Alzheimer’s disease studies.